# kaal:claim:3808859-003

**Claim.** Firms that fare worst under disruptive innovation share a myopic short-term focus on shareholder value maximization, because emphasis on share price and financial metrics obscures the question of whether the firm remains relevant.

**Type.** failure  **Support.** argued

**Holds when.**

- listed companies in particular

**Source quote.**

> Less successful companies often share a myopic and short-term focus on shareholder value maximization that has led to an unhealthy emphasis on firm share price, market valuations, and financial metrics that obscure issues of relevancy.

**From.** Wulf A. Kaal, *Decentralization – Why We Need Technology Infrastructure Upgrades* (2021), I. Introduction, page 6

**Cite as.** Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859

**Verify.** sha256 of source PDF `304ad25d43b5ecea3158e3a2ca04e6e1e3bd2958e2134e2dcefbfedf3b6f3ab7` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20Decentralization%20%E2%80%93%20Why%20We%20Need%20Technology%20Infrastructure%20Upgrades.pdf

**Failure mode.** short-termism obscures relevancy  (family: short-termism)

**Topics.** corporate-governance, risk-and-incentives, governance-design

**Keywords.** shareholder-value, short-termism, incumbent-failure, corporate-governance

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3411897-013
- restates: https://wulfkaal.github.io/claims/2922176-004
- supports: https://wulfkaal.github.io/claims/2922176-007

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.